A simple understanding of how rich people think

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21 Ways Rich People Think Differently
By Mandi Woodruff
World’s richest woman Gina Rinehart is
enduring a media firestorm over an article in
which she takes the “jealous” middle class to
task for “drinking, or smoking and socializing”
rather than working to earn their own
fortune.
What if she has a point?
Steve Siebold, author of “How Rich People
Think,” spent nearly three decades
interviewing millionaires around the world to
find out what separates them from everyone
else.
It had little to do with money itself, he told
Business Insider. It was about their mentality.
“[The middle class] tells people to be happy
with what they have,” he said. “And on the
whole, most people are steeped in fear when
it comes to money.”
1. Average people think MONEY is the
root of all evil. Rich people believe POVERTY
is the root of all evil.
“The average person has been brainwashed
to believe rich people are lucky or dishonest,”
Siebold writes.
That’s why there’s a certain shame that
comes along with “getting rich” in lower-
income communities.
“The world class knows that while having
money doesn’t guarantee happiness, it does
make your life easier and more enjoyable.”
2. Average people think selfishness is a
vice. Rich people think selfishness is a virtue.
“The rich go out there and try to make
themselves happy. They don’t try to pretend
to save the world,” Siebold told Business
Insider.
The problem is that middle class people see
that as a negative––and it’s keeping them
poor, he writes.
“If you’re not taking care of you, you’re not in
a position to help anyone else. You can’t give
what you don’t have.”
3. Average people have a lottery
mentality. Rich people have an action
mentality.
“While the masses are waiting to pick the
right numbers and praying for prosperity, the
great ones are solving problems,” Siebold
writes.
“The hero [middle class people] are waiting
for may be God, government, their boss or
their spouse. It’s the average person’s level of
thinking that breeds this approach to life and
living while the clock keeps ticking away.”
4. Average people think the road to
riches is paved with formal
education. Rich people believe in acquiring
specific knowledge.
“Many world-class performers have little
formal education, and have amassed their
wealth through the acquisition and
subsequent sale of specific knowledge,” he
writes.
“Meanwhile, the masses are convinced that
master’s degrees and doctorates are the way
to wealth, mostly because they are trapped
in the linear line of thought that holds them
back from higher levels of consciousness…
The wealthy aren’t interested in the means,
only the end.”
5. Average people long for the good old
days. Rich people dream of the future.
“Self-made millionaires get rich because
they’re willing to bet on themselves and
project their dreams, goals and ideas into an
unknown future,” Siebold writes.
“People who believe their best days are
behind them rarely get rich, and often
struggle with unhappiness and depression.”
6. Average people see money through
the eyes of emotion. Rich people think
about money logically.
“An ordinarily smart, well-educated and
otherwise successful person can be instantly
transformed into a fear-based, scarcity driven
thinker whose greatest financial aspiration is
to retire comfortably,” he writes.
“The world class sees money for what it is
and what it’s not, through the eyes of logic.
The great ones know money is a critical tool
that presents options and opportunities.”
7. Average people earn money doing
things they don’t love. Rich people follow
their passion.
“To the average person, it looks like the rich
are working all the time,” Siebold says. “But
one of the smartest strategies of the world
class is doing what they love and finding a
way to get paid for it.”
On the other hand, middle class take jobs
they don’t enjoy “because they need the
money and they’ve been trained in school
and conditioned by society to live in a linear
thinking world that equates earning money
with physical or mental effort.”
8. Average people set low expectations
so they’re never disappointed. Rich
people are up for the challenge.
“Psychologists and other mental health
experts often advise people to set low
expectations for their life to ensure they are
not disappointed,” Siebold writes.
“No one would ever strike it rich and live their
dreams without huge expectations.”
9. Average people believe you have to
DO something to get rich. Rich people
believe you have to BE something to get rich.
“That’s why people like Donald Trump go
from millionaire to nine billion dollars in debt
and come back richer than ever,” he writes.
“While the masses are fixated on the doing
and the immediate results of their actions,
the great ones are learning and growing from
every experience, whether it’s a success or a
failure, knowing their true reward is
becoming a human success machine that
eventually produces outstanding results.”
10. Average people believe you need
money to make money. Rich people use
other people’s money.
Linear thought might tell people to make
money in order to earn more, but Siebold
says the rich aren’t afraid to fund their future
from other people’s pockets.
“Rich people know not being solvent enough
to personally afford something is not relevant.
The real question is, ‘Is this worth buying,
investing in, or pursuing?’” he writes.
11. Average people believe the markets
are driven by logic and strategy. Rich
people know they’re driven by emotion and
greed.
Investing successfully in the stock market
isn’t just about a fancy math formula.
“The rich know that the primary emotions
that drive financial markets are fear and
greed, and they factor this into all trades and
trends they observe,” Siebold writes.
“This knowledge of human nature and its
overlapping impact on trading give them
strategic advantage in building greater
wealth through leverage.”
12. Average people live beyond their
means. Rich people live below theirs.
“Here’s how to live below your means and tap
into the secret wealthy people have used for
centuries: Get rich so you can afford to,” he
writes.
“The rich live below their means, not because
they’re so savvy, but because they make so
much money that they can afford to live like
royalty while still having a king’s ransom
socked away for the future.”
13. Average people teach their children
how to survive. Rich people teach their kids
to get rich.
Rich parents teach their kids from an early
age about the world of “haves” and “have-
nots,” Siebold says. Even he admits many
people have argued that he’s supporting the
idea of elitism.
He disagrees.
“[People] say parents are teaching their kids
to look down on the masses because they’re
poor. This isn’t true,” he writes. “What
they’re teaching their kids is to see the world
through the eyes of objective reality––the way
society really is.”
If children understand wealth early on, they’ll
be more likely to strive for it later in life.
14. Average people let money stress
them out. Rich people find peace of mind in
wealth.
The reason wealthy people earn more wealth
is that they’re not afraid to admit that money
can solve most problems, Siebold says.
“[The middle class] sees money as a never-
ending necessary evil that must be endured
as part of life. The world class sees money as
the great liberator, and with enough of it,
they are able to purchase financial peace of
mind.”
15. Average people would rather be
entertained than educated. Rich people
would rather be educated than entertained.
While the rich don’t put much stock in
furthering wealth through formal education,
they appreciate the power of learning long
after college is over, Siebold says.
“Walk into a wealthy person’s home and one
of the first things you’ll see is an extensive
library of books they’ve used to educate
themselves on how to become more
successful,” he writes.
“The middle class reads novels, tabloids and
entertainment magazines.”
16. Average people think rich people are
snobs. Rich people just want to surround
themselves with like-minded people.
The negative money mentality poisoning the
middle class is what keeps the rich hanging
out with the rich, he says.
“[Rich people] can’t afford the messages of
doom and gloom,” he writes. “This is often
misinterpreted by the masses as snobbery.
Labeling the world class as snobs is another
way the middle class finds to feel better bout
themselves and their chosen path of
mediocrity.”
17. Average people focus on saving. Rich
people focus on earning.
Siebold theorizes that the wealthy focus on
what they’ll gain by taking risks, rather than
how to save what they have.
“The masses are so focused on clipping
coupons and living frugally they miss major
opportunities,” he writes.
“Even in the midst of a cash flow crisis, the
rich reject the nickle and dime thinking of the
masses. They are the masters of focusing
their mental energy where it belongs: on the
big money.”
18. Average people play it safe with
money . Rich people know when to take risks.
“Leverage is the watchword of the rich,”
Siebold writes.
“Every investor loses money on occasion, but
the world class knows no matter what
happens, they will aways be able to earn
more.”
19. Average people love to be
comfortable. Rich people find comfort in
uncertainty.
For the most part, it takes guts to take the
risks necessary to make it as a millionaire––a
challenge most middle class thinkers aren’t
comfortable living with.
“Physical, psychological, and emotional
comfort is the primary goal of the middle
class mindset,” Siebold writes.
World class thinkers learn early on that
becoming a millionaire isn’t easy and the
need for comfort can be devastating. They
learn to be comfortable while operating in a
state of ongoing uncertainty.”
20. Average people never make the
connection between money and
health. Rich people know money can save
your life.
While the middle class squabbles over the
virtues of Obamacare and their company’s
health plan, the super wealthy are enrolled in
a super elite “boutique medical care”
association, Siebold says.
“They pay a substantial yearly membership
fee that guarantees them 24-hour access to a
private physician who only serves a small
group of members,” he writes.
“Some wealthy neighborhoods have
implemented this strategy and even require
the physician to live in the neighborhood.”
21. Average people believe they must
choose between a great family and
being rich. Rich people know you can have
it all.
The idea that wealth must come at the
expense of family time is nothing but a “cop-
out”, Siebold says.
“The masses have been brainwashed to
believe it’s an either/or equation,” he writes.
“The rich know you can have anything you
want if you approach the challenge with a
mindset rooted in love and abundance.”
From Steve Siebold, author of “How Rich
People Think.”